EMLAK KONUT GAYRİMENKUL YATIRIM ORTAKLIĞI BIST:DMLKT:
SAID ON FRIDAY IT COMPLETES THE RENEWED TENDER FOR ISTANBUL ATAŞEHIR KÜÇÜKBAKKALKÖY LAND SALE WITH REVENUE SHARING PROJECT, CONDUCTED UNDER COOPERATION PROTOCOL SIGNED WITH FENERBAHÇE SPORTS CLUB AND AKFIN REAL ESTATE VALUATION
PROJECT'S TOTAL SALES REVENUE REACHED 30.02 BILLION LIRA WHILE COMPANY REVENUE SHARE RATIO WAS SET AT 45%, CORRESPONDING TO A TOTAL COMPANY REVENUE SHARE OF 13.51 BILLION LIRA
4.06 BILLION LIRA OF THIS AMOUNT IS EXPECTED TO BE COLLECTED AS AN UPFRONT PAYMENT FOLLOWING CONTRACT SIGNING, PROVIDING STRONG AND RISK‑FREE INITIAL FINANCING FOR BOTH COMPANY AND LANDOWNER STAKEHOLDER
GUARANTEED MINIMUM COMPANY REVENUE OF 13.51 BILLION LIRA, SECURED UNDER EMLAK KONUT GYO ASSURANCE, MAY INCREASE DEPENDING ON PROJECT'S TOTAL SALES PERFORMANCE ANY ADDITIONAL REVENUE GENERATED ABOVE BASE LEVEL WILL BE REFLECTED IN PROJECT ACCOUNT BASED ON 45% COMPANY SHARE
REVENUE DISTRIBUTION WILL FOLLOW PREVIOUSLY ANNOUNCED PRINCIPLES, WITH 80% ALLOCATED TO LANDOWNERS AND 20% TO THE COMPANY
Source text for Workspace:
Further company coverage: